CHAIRMAN David Koch has conceded Port Adelaide made a number of blunders as it staggered to a pre-grant operating loss of $6.3 million when he addressed key stakeholders at a lunch at Alberton yesterday.

But Koch, who spoke passionately about a new beginning, said the Power was not alone in struggling to make ends meet.

He said the club's initial report of a loss of $2.1 million - after grants from the AFL and the SANFL had softened the blow - gave a better guide to the club's affairs.

The TV identity and financial expert did not - and could not - dispute The Advertiser's figure of a $6 million-plus operating loss in yesterday's edition, except for questioning what should be considered a grant and what should be considered an entitled revenue.

Koch said the club could have been too transparent in its dealings, which made the situation look worse than other AFL clubs that did not fully disclose all of their grants and assistance in their financial results.

A snapshot of Port Adelaide's operating loss, which was reported in The Advertiser yesterday, said it was $6.2 million in the red before SANFL grants and AFL distributions.

Koch agreed on the numbers but said the interpretation left room for consideration.

"$2.1 million is the loss that we made," Koch said.

"$2 million on top of that from SANFL that came through, that was agreed to by the AFL and SANFL ages ago to get through to Adelaide Oval."

All clubs receive money from the equal distribution fund. Port Adelaide is one of eight clubs that receives $3.9 million from the equal fund - which is based on earning capacity - from 2012-16 and one of 13 clubs to receive money from the disequal fund.

Koch said openness and transparency were good governance, even though he felt there were still sections of the South Australian football landscape that were hostile towards the Power.

"So there's no surprise there," he said.

"You look at Brisbane, the Brisbane Lions - $2.5 million; no one announces any grants or anything like that in their bottom line.

"We do. We show it all.

"And that's terrific but we just want people to see it for what it is.

I must admit I didn't realise what a fishbowl Adelaide is

"We're giving them extra information, rather than it being new, surprising money that we don't know about.

"We're saying that because we give more information; still benchmark us against every other club in the AFL. $6.2 million doesn't benchmark us against the rest of the AFL; $2.1 (million) benchmarks us against the Lions.

"$2.1 million (loss) benchmarks us against the $4.9 million (profit) of Collingwood, which is fair enough as well.

"Most AFL clubs don't break it down. What we're saying is that just because we do, in terms of good governance and transparency, we shouldn't be compared differently to everybody else."

Koch was quick to admit there was heavy lifting to be done after the financials were revealed.

It was a driving motivation for Koch, who is based in Sydney, to take his role.

"Right from the very start, I have said these figures are unacceptable," Koch said.

"We put these figures out, we declare it like anybody else and we're happy for everybody to know.

"That's why I joined up.

"That's why half the board joined up.

"We can't keep losing that amount of money.

"We have to get back in the black. But we're not alone.

"We're not doing well; a lot of other AFL clubs aren't doing well. I must admit I didn't realise what a fishbowl Adelaide is. I had forgotten, in terms of footy, how deep-seated the baggage is for some people.

"The top echelon of the SANFL - Leigh Whicker, John Olsen - have been sensationally supportive.

"But there seems to be this minority that's out to damage the brand of Port Adelaide.

"We are trying to rebuild this club. We've got a new board that's only 60 days old.

"We are working our backsides off to build confidence in this club, from sponsors, members and supporters. We get equalisation money like every other club.

"We get, like so many other clubs, 13 clubs, we get a little bit more because we don't have big Friday night blockbuster games. Because they don't schedule Anzac Day games (in Adelaide).

"And that's fair enough.

"Because television demands that the best teams play and we don't complain about that at all.

"But the money we receive is what we're entitled to, and what's been agreed across the whole league."

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